A framework for analyzing the impact on the expected cost of oil disruption by energy policies in EU-25 is developed. The framework takes into account how energy policies affect the oil market, the expected oil price increase, and the disruption costs. OPEC's strategic behavior is modelled as a...

This paper11Thanks for excellent research assistance for this paper to Emmanuel Carlsson. Valuable comments from Francisco Alpizar, Ashokankur Datta and an anonymous referee are gratefully acknowledged as is financial support from the Swedish International Development Cooperation Agency (Sida)...

Global climate change stands out from most environmental problems because it will span generations and force us to think in new ways about intergenerational fairness. It involves the delicate problem of complex coordination between countries on a truly global scale. As long as fossil fuels are...